Understanding LIC Jeevan Lakshya Plan 933: A Comprehensive Guide for Parents

When discussing insurance plans for the welfare of your future generation, many parents consider the Kanyadan Policy. However, it is important to note that LIC does not have a specific policy called Kanyadan. Instead, LIC Jeevan Lakshya Plan 933 is commonly referred to as the Kanyadan Policy by many LIC advisors. This plan is designed to provide financial security for your child's future.

What is LIC Jeevan Lakshya Plan 933?

LIC Jeevan Lakshya Plan 933, formally known as Plan 933, is a long-term investment plan offered by Life Insurance Corporation (LIC). This plan is often marketed as a Kanyadan Policy due to its structure and benefits that resemble the traditional Kanyadan Yojna.

Key Features of LIC Jeevan Lakshya Plan 933

Here are the key features of the LIC Jeevan Lakshya Plan 933:

Maximum Tenure: The plan has a maximum tenure of 25 years. The premium term is 3 years less than the tenure, meaning for a tenure of 25 years, the premium term is set for 22 years. Minimum and Maximum Term: The minimum term for the plan is 13 years, and there is no upper limit to the investment amount, starting from a minimum of 1 Lac. Waiver of Premium: In case of the death of the policy holder, all future premiums are waived off. This ensures that no additional financial burden is imposed on the nominee in the case of the policy holder's untimely demise. Dying Benefits: If the policy holder passes away, the nominee will receive the basic cover amount. Additionally, 10% of the sum assured is paid annually to the nominee until the maturity of the plan. Maturity Benefits: Maturity benefits are also payable, ensuring that the nominee receives the initial investment amount plus interest and other factors as applicable.

Why Choose LIC Jeevan Lakshya Plan 933?

The LIC Jeevan Lakshya Plan 933 offers a unique suite of benefits that make it ideal for parents looking to secure their child's future. Here are some reasons why this plan is highly recommended:

Comprehensive Coverage: The plan provides a basic cover amount, along with annual 10% of the sum assured, and maturity benefits. This ensures multiple sources of financial support for the nominee. Long-Term Investment: The 25-year tenure of the plan allows your child to enjoy the benefits even when they are far into adulthood. No Age Limit: Anyone can purchase this plan, and there is no age limit, making it suitable for parents of all ages. Flexibility: The plan has no upper limit on the investment amount, allowing parents to contribute as much as they can based on their financial capacity. Insurance and Investment Combined: The plan combines insurance with investment, offering better returns and peace of mind.

FAQs

Here are some frequently asked questions about LIC Jeevan Lakshya Plan 933:

Q: Is this plan only for unmarried girls?
A: No, the LIC Jeevan Lakshya Plan 933 is not limited to unmarried girls. Any individual can purchase this plan for their future, whether it is for their child or any other dear one. Q: Can the plan be altered or modified after purchase?
A: Once the plan is purchased, it cannot be altered or modified. The terms and conditions are fixed, and any changes would need to be discussed with the LIC representative. Q: What happens if the policy holder does not pass away before the maturity period?
A: If the policy holder lives until the maturity period, the nominee will receive the maturity benefits, which include the initial investment amount plus interest and other applicable factors.

Conclusion

In conclusion, the LIC Jeevan Lakshya Plan 933 is a thoughtful and comprehensive investment plan that offers multiple benefits. It is tailored to meet the needs of parents who are looking to secure their child's future by providing financial support in different scenarios. If you are seeking a plan that combines insurance and investment, this plan is worth considering.

Related Keywords: LIC Jeevan Lakshya Plan 933, Kanyadan Policy, LIC Insurance